One of the most widespread and least detected ploys -- especially in high-density, renter-heavy cities like New York -- revolves around phony application fees for credit checks.
After coughing up cash for phony "processing fees", the victim was left five figures poorer with no mortgage relief in sight.
Rudy Giuliani admits for the first time that Trump reimbursed Cohen for the Stormy payment by paying him phony retainer fees, but he says Cohen acted on his own, "funneling the money through a law firm," and acted without Trump's knowledge.
So the banks that robbed themselves, robbed each other, financed what the FBI calls a "mortgage fraud epidemic," while gouging their customers with excess fees, phony charges and inadequate monitoring of fraud in individual accounts, are getting off Scott-free.
So even when they aren't being bilked by fake accounts set up in their name or charged phony and excessive overdraft fees, consumers will face the prospect of doing business with unchecked predators preying on people of color.
Scams such as those that involve false loan promises, advance-fee fraud, and phony business employment opportunities serve as easy opportunities for dishonest organizations not only to make a "fast buck" but also to obtain credit-card and other personal information that can be used to commit identity-fraud offenses.
Wells Fargo employees, under pressure to meet sales goals, created two million phony accounts, charged improper and unauthorized fees, and withdrew money from customers' accounts.
The lawsuits alleged that Shmuckler and his associates defrauded the homeowners with phony promises of modifications in return for big upfront fees.
You may find a large number of phony counseling agencies that offer their services for an outrageous fee.
The most popular current telemarketing scheme is phony credit card offers to people with financial problems who are asked to pay fees of hundreds of dollars, the National Consumers League says.
